DONE DEAL: Key $2.4 million is made by the Packers. Preston Smith moves before unrestricted

According to Field Yates of ESPN, the Green Bay Packers restructured OLB Preston Smith’s deal on Wednesday, which was a significant contract move:
“The Packers and OLB Preston Smith have reached an agreement on a restructured contract that will provide the team $2.4 million in cap room in 2024. Smith is now paid $10 million for this year.

Ahead of the NFL’s free agency period, the Packers have been busy making room. The team reworked Rashan Gary’s contract earlier this week, freeing up over $5 million.

The Packers formally extended Smith’s contract in 2022 for a total of $52.5 million over four years. Loaded with incentives, the enormous deal had a potential value of up to $71 million.

Eight sacks, two forced fumbles, and four pass deflections were recorded by Smith, who has never missed a game in his career, for the Packers. Smith and the defense kept the Packers afloat until their late-season run that saw them defeat the Dallas Cowboys and go to the playoffs as the team switched quarterbacks from Aaron Rodgers to Jordan Love. Love talked about that game with Micah Parsons earlier this month when they sat down:
“I believe that your pass rush is your greatest weapon. Excellent defensive backs there as well, but I feel like they depend too much on the pass rush. As a quarterback, you feel pressure to release the ball quickly when you have a strong pass rush. Therefore, we were able to take advantage of it and slow you down a little bit by dropping some chips on you, Micah Parsons. [DeMarcus] Lawrence, please slow him down a little bit. I knew I would have to stay in that pocket and endure a few blows from both of those guys and from you. I was sure that the men at receiving, who we have, would go forth and take the necessary action against you DBs.